I am also in a masters program applying this year, although I got off to a very late start. I didnt even bother applying the first time around: I got a 29O, with a 9 in Bio. Tried again this year, and got a 29 AGAIN, but improved to an 11 on BIO, and a Q on the writing sample.
Will I get rejected this year? Who knows, most probably unless something miraculous happens: I found out that one of my LOR writers didnt send out the letters. But will I try again? Most definitely! I dont know how to quit, plus I have a lot of cool experience (volunteering abroad, interning with the UN), and if I get caught with the interview on the right day, I am one of those people that can transmit the right amount of fervor.
Long winded, but the answer is definitely yes.
BTW, I'm also a Nigerian on the East Coast. Bush Baby, we should IM each other!